Side-by-Side Comparison
Compare up to 3 mortgage scenarios simultaneously. Edit any field to see results update instantly.
Monthly Payment
$2,609
✓ Lowest Payment
Monthly Payment
$3,123
Monthly Payment
$3,277
| Metric | Scenario A | Scenario B | Scenario C |
|---|---|---|---|
| Home Price | $400,000 | $400,000 | $400,000 |
| Down Payment | $80,000 (20.0%) | $40,000 (10.0%) | $80,000 (20.0%) |
| Interest Rate | 6.75% | 6.75% | 6.25% |
| Loan Term | 30 yr | 30 yr | 15 yr |
| Monthly P&I | $2,076 | $2,335 | $2,744 |
| Monthly PITI | $2,609 | $3,123 | $3,277 |
| Loan Amount | $320,000 | $360,000 | $320,000 |
| Total Interest | $427,185 | $480,583 | $173,876 |
| Total Payments | $747,185 | $840,583 | $493,876 |
How to Compare Mortgage Scenarios Like a Pro
When applying for a mortgage in 2026, loan officers will barrage you with different options: A 30-year fixed, a 15-year fixed, an ARM, or a scenario where you pay extra cash upfront for "points." Never pick a loan based entirely on the monthly payment. Use our Loan Comparison Calculator to model up to three scenarios side-by-side and reveal exactly which mortgage mathematically saves you the most money over the next three decades.
The Danger of the "Lowest Monthly Payment"
Banks make massive profits by selling you loans with incredibly low monthly payments.
If Bank A offers you a 30-year loan at $2,500 a month, and Bank B offers a 15-year loan at $3,500 a month, the 30-year loan seems like the obvious choice. But what the bank does not actively advertise is the Total Interest Paid.
On a 30-year mortgage, you will often pay hundreds of thousands of dollars in pure interest. By utilizing the 15-year loan, your monthly payment is aggressively higher, but you destroy the principal balance so fast that you can save $200,000+ in interest over the life of the loan. Our side-by-side calculator forces the bank's true profit margins into the open.
How to Use the 3-Scenario Analysis
Our tool allows you to instantly compare three distinct loan profiles. Here are the most common ways experts use this calculator:
- 1. The Down Payment Test:
Scenario 1: 5% down with PMI.
Scenario 2: 10% down.
Scenario 3: 20% down (No PMI).
See exactly how much cash flow you save by waiting another year to save a massive 20% down payment. - 2. The Term Length Battle:
Scenario 1: 30-Year Fixed.
Scenario 2: 20-Year Fixed.
Scenario 3: 15-Year Fixed.
Watch how slightly raising your monthly payment brutally slashes your total interest costs. - 3. The Interest Rate Buy-Down:
Scenario 1: 7.0% rate (no points).
Scenario 2: 6.5% rate (paying $4,000 in discount points upfront).
See exactly how many months it takes for the lower interest rate to mathematically "break even" with the $4,000 upfront cost.
The FHA vs. Conventional Debate
In 2026, first-time homebuyers are often torn between an FHA loan (which allows a 580 credit score but mandates expensive, permanent Mortgage Insurance Premiums) and a Conventional loan (which requires higher credit scores but allows PMI to eventually fall off).
Use our comparison tool to model the exact same house with an FHA loan in Scenario 1 and a Conventional loan in Scenario 2. If you plan to live in the house for 30 years, the permanent MIP on the FHA loan will likely make it significantly more expensive over the long term, even if the FHA interest rate is technically lower.
Need to Dive Deeper?
If you want to view the full, month-by-month amortization schedule for a specific scenario (including taxes and insurance), move your numbers over to our massive, fully featured Mortgage Calculator.
Go to Advanced Mortgage CalculatorLoan Comparison — Frequently Asked Questions
Is a 15-year or 30-year mortgage better?
A 30-year mortgage gives you flexibility. The monthly payment is low, which protects you if you lose your job. A 15-year mortgage has a significantly higher monthly payment, but it destroys the loan balance twice as fast. A 15-year mortgage will literally save you hundreds of thousands of dollars in interest, but you must be mathematically certain you can afford the massive monthly payment.
Should I put 10% or 20% down on a house?
If you put 10% down, the bank will force you to pay Private Mortgage Insurance (PMI) every single month, which is essentially a useless penalty fee. If you put 20% down, PMI is completely outlawed. You can use our calculator to see exactly how much money a 20% down payment saves you every month by removing the PMI line item.
Should I buy mortgage points to lower my rate?
When you buy "points," you are giving the bank extra cash upfront (usually thousands of dollars) in exchange for a permanently lower interest rate. You must run the math to find your "break-even" point. If the points cost $4,000 upfront, but they only save you $40 a month, it will take 100 months (over 8 years) just to break even. If you plan to sell the house in 5 years, buying points is a terrible financial decision.
Continue your financial research
Use these closely related USFinNexus guides and tools to plan your next step.
A second loan changes the risk as well as the payment. Compare the 80-10-10 piggyback mortgage structure.
If a quoted loan is outside standard underwriting, read portfolio and non-QM mortgage trade-offs.
Illustrative comparison scenarios
| Term | Monthly P&I | Scheduled interest |
|---|---|---|
| 10 years | $3,406 | $108,773 |
| 15 years | $2,613 | $170,398 |
| 20 years | $2,237 | $236,813 |
| 25 years | $2,026 | $307,686 |
| 30 years | $1,896 | $382,633 |
Educational scenarios, not quotes, approvals, investment forecasts or tax advice. See methodology and limitations.